iva f+f advice

[elldina]

hi all i only seem to appear when ive a question
my hubby has just had a job recruiter contact him with regards working abroad as his trade is on the critical skills list in a few different countries obviously he wants to go for any job offered but i m having sleepless nights worrying about the iva
we have now made 21 payments out of 67 (we had a payment break for a car and when my hubbys wages changed dates they added a month instead of taking 2 mths)i dont want to leave the country if this comes off with money still owed and worrying about transfering money each month keeping bank account open and contacting ips etc time due to time differences


we pay £ 282 a mth so far is £5922 paid
we owed in total £29500 but 3 creditors still havent put in claims so its around £25000 claimed
we agreed to pay £16920 so what would be a reasonable amount to offer
i will have to pluck up courage and admit my shame of running into debt to my parents or hubbys and ask if they would help out
i'm so worried about it as i dont want this to stop us moving if we get a good offer and i dont want to leave owing anything either
thank you in advance from a wobbly elldina xx

[kallis3]

Hi Elldina, how are you? Lovely to see you again.

I think that if you raise enough to realise the original dividend, this would be acceptable.

You can carry on paying from abroad though, we have one or two posters who do this and you should always be able to contact your IP, even if it is via email.

Have a word with them.

[Michael Peoples]

An offer of £10,000 should easily achieve the original dividend but if there is a reduction in fees you may have a lower offer accepted. Ask your IP how much would be needed to achieve the dividend and work it from there. Creditors are normally happy to accept full and final offers particularly if there is a possibility of the IVA failing. Good luck.

[elldina]

hi jan , sorry am a fair weather friend i only appear with worries
am ok but am getting so worried about this as been having a few rows with hubby as he wants to up and leave everything if he gets a job offer which i will not do so with that reason alone i would like to go for a full and final , i'm not sure how much parents on both sides would be able to offer if they do help at all and wanted facts and figures to speak to them i was wondering if by the time i pluck up courage and we find out details of jobs etc and obviously continue pay each month a figure nearer £7000 i honeslty dont know but its really playing on my mind a
sorry for ramble

[Michael Peoples]

If there is an offer of £7,000 on the table with a valid reason for putting it forward it is highly likely that it would be accepted. However, I would speak to the IP before the parents to gauge their feeling on an amount.

[kallis3]

Ramble on all you like, and it's always nice to see you.

Personally, if I had the opportunity to move abroad for a better job and still be able to continue my IVA if I couldn't make a full and final, then I'd do it, but of course it's something you need to think long and hard about.

I know animaleyes was on earlier, and he manages his IVA from the Czech republic with no problems. Hopefully he can come on and reassure you.

[elldina]

i would also continue it if it was mine alone but its a joint iva and hubby says he wants it left if we left so am battling with him about that thats why i feel a f+f would be better if its possible i must now talk to him and see if he is willing for us to approach our ip and get facts and figures then decide which set of parents oh god i'm shrinking down to 3 ft tall at the thought of telling my dad who has never ever been in debt
also the cost of living info over in whichever country he gets an offer from i would be worried about doing I &E as been reading up stuff and theres loads of hidden extras like school charges per term for pta membership you have to pay even as a state school think i'd be having nightmares we agreed to a set amount to pay then we have all the itty bits you have to pay and then causes more problems in new countries australia new zealand canada are also outside eu

[MelanieGiles]

What a fantastic opportunity - wish my husband would come home with news like that!
There is no real problem in continuing with an IVA from abroad - I have lots of clients who have done this - however you do need to be mindful of any currency fluctuations and overseas expenditure differentials. I think if you have the opportunity to clear the debts before you go, you can then look forward to the ultimate fresh start - how exciting for your both!

[kallis3]

I'd be on the next plane out of here!

[elldina]

hi everyone if we go ahead with a f+f what evidence do ips need that money is from parents would cheques from parents be enough with a covering letter as i know when we speak to parents they probably would not want to show bank statements etc both sets are solvent retired and semi retired and have savings but not an absolute load of money and i think between them £6-7000 would be the maximum they could offer i do think they will help us if hubby gets a confirmed offer as we would explain we'd like it all cleared to have a fresh start and repay them
oh am still wobbly but have sat with hubby and got him to see that we need it sorted thanks everyone fingerscrossed we get a confirmed sponsored job offer and parents help
how would you word the offer too as what Melanie said about currency differencies etc was a thing worrying me and being able to pay sorry waffling again
elldina xx

[MelanieGiles]

Cheques will be fine, but your IP will need to check your parents' identities and will likely need some form of photographic ID from them as well as evidence of residency - such as a council tax bill.

I would word your letter honestly, simply relating the facts which are leading to your move and the implications on your budget. There is no hard and fast format, but your IP will want to understand why you cannot continue to meet your IVA payments after relocatino, so do some reasarch into the cost of local housing, food, utilities and travelling by way of background.

[elldina]

my hubbys parents live in spain 6mths and his father works in the uk 6 mths he uses our address for his uk bank statements and wage slips he'd have passport as photographic id and but his other id like utilities will be in spain which he wont return to until november unless he uses his bank statements from this address
i will have a good look at costings i know fuel is cheaper food is around the same rent is higher in australia need to look at health service there as im not sure if would have to get private with schooling there even state schools you pay certain fees thank you all again for your advice i just hope it all comes off got everything crossed , still need to get parents on side but will only ask them if we get confirmed offer
elldina xx